| DKK millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 172.9 | 253.8 | 294.5 | 206.1 | 163.4 | 200.7 | +22.8% | |
| Depreciation & amortization | 104.5 | 100.5 | 108.5 | 113.4 | 97.0 | 114.7 | +18.2% | |
| Stock-based compensation | 0.0 | 0.0 | 1.5 | 3.4 | 0.0 | 0.0 | — | |
| Change in working capital | 103.0 | (42.8) | (181.2) | 184.3 | (79.1) | (50.8) | +35.8% | |
| Operating cash flow | 375.4 | 308.1 | 215.8 | 346.4 | 199.2 | 312.4 | +56.8% | |
| Capital expenditure | (60.8) | (202.9) | (205.5) | (94.8) | (116.2) | (134.4) | −15.7% | |
| Acquisitions | (5.5) | (9.6) | (127.8) | (1.5) | (305.1) | 0.0 | +100.0% | |
| Investing cash flow | (66.3) | (212.7) | (333.3) | (130.2) | (465.4) | (200.1) | +57.0% | |
| Dividends paid | (16.3) | (40.8) | (122.3) | (142.7) | (101.9) | (81.6) | +19.9% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (215.5) | (25.3) | 137.8 | (19.0) | 375.7 | (24.6) | −106.5% | |
| Financing cash flow | (256.2) | (91.6) | 15.5 | (161.7) | 232.1 | (106.3) | −145.8% | |
| Free cash flow | 314.6 | 105.2 | 10.3 | 251.6 | 83.0 | 178.0 | +114.5% | |
| Net change in cash | 52.8 | 3.7 | (102.0) | 54.5 | (34.1) | 6.0 | +117.6% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
